Trading on the domestic bourse began the week on a positive note, largely driven by investors’ demand for MTNN (+3.6%) shares.

Thus, the All-Share Index increased by 0.3% to 23,089.86 points. Consequently, the Year-to-Date losses moderated to -14.0%.

The total volume of trades decreased by 30.5% to 249.86 million units, valued at NGN2.40 billion and exchanged in 6,538 deals. Guaranty was the most traded stock by volume and value at 44.53 million units and NGN470.41 million, respectively.

On a sectoral breakdown, declines were recorded in the Insurance (-2.0%), Industrial Goods (-1.3%) and Banking (-1.2%) indices, albeit were masked by the gains in the Oil and Gas (+0.7%) and Consumer Goods (+0.2%).

Market sentiment, as measured by market breadth, was negative (0.8x), as 19 tickers lost, relative to 15 gainers.

NEM (-10.0%) and Neimeth (-10.0%) were the top losers, while Prestige (+10.0%) and Ardova (+10.0%) were the top gainers of the day.

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